Percentage rent has a PR problem. It’s right up there with the personal guaranty on the list of concepts retailers love to hate... but should it be? The initial feeling of “oh haaaale no” is tough to overcome, but just like colonoscopies and unmedicated childbirth, once you learn how it really works, it’s not as bad as it sounds…in fact, a lot of people do it willingly.

💡 ICYMI there are two types of percentage rent. One is where the rent payment is a set percentage of revenues each month instead of a fixed base rent. Tenants love this, and they should. We’re talking about the other percentage rent – where above a certain threshold, a tenant pays some additional rent on top of their r...

We talked the other week about the critical role that project managers play in the buildout process protecting your budget, timeline, and sanity. You absolutely must have an experienced, professional buildout team if you want any hope of making it through in one piece. But even with the best teams in place, there are a host of unwelcome surprises along the way that can only be solved with history’s oldest salve: money.

Modifying any physical space – turning it from one look and use into another – is not a matter of imagination. It’s a very real process that’s ruled by physics and building code. 

So even in the best cases where the pre-lease construction due diligence has been duly done, te...

Most of us grow up learning various life skills from our parents. Some of those skills are critically important, like a sense of humor or how to apologize. Some are more practical, like how to purify water from a stream or power wash vinyl siding. 

In my family, my sister and I learned a lot of things growing up, but “practical” skills? Debatable. I’m not sure that anyone ever saved money or survived in the woods by knowing all the words to Cats! or where Vermeer lived (Delft!) So having grown up in a home where DIY projects were pretty much limited to framing pictures and re-covering dining room chairs, you can infer that the world of commercial construction was pretty unfamiliar.



Needless ...

A couple weeks ago we talked about why people lose their ever-loving minds and try to Mortal Kombat us when we tell them they’re going to need more money to open their brick and mortar business. 

So today we’re taking it one step farther and discussing one of the biggest reasons why it costs way more to get open than people often expect: brick and mortar businesses require certain up front expenditures that you absolutely, positively have to incur whether you want to or not. 

It would seem that the amount of money you spend would be entirely within your control – that if you’re scrappy enough, you can always make something work within your budget. To some extent that’s true; bigge...

When I moved into my house, it was brand new construction. It looked amazing — clean floors, sparkling fixtures, still had that fresh drywall smell. But you know how this story goes: in the first few months, the cracks started to show.

🚰 The water dispenser on the fancy fridge didn’t work.

🌧️ Our neighbor Aaron complained that the pop-drain in our lawn flooded his property every time it rained.

🚪 And then — the real kicker — the vendor repairing said pop drain left our garage door open when we weren’t home. And wouldn’t you know it, the fancy new e-bike I’d bought my husband just a month prior was GONE.

We were livid.

The bike was expensive – it had bee...

When Netflix dropped Nonnas, a "feel-good" Vince Vaughn flick about the restaurant business, we just knew we needed to write about it.

Here’s the synopsis: After losing his beloved mother, a man risks everything to honor her by opening an Italian restaurant with actual nonnas — grandmothers — as the chefs.

Cute premise and who doesn't love Italian food, but what made our blood pressure rise to dangerous Florida PTA book banning levels was the Hollywood treatment of opening a restaurant. Yes, it’s “based on a true story,” but just like Vince Vaughn’s forehead, the story is pumped full of neurotoxins to make opening a restaurant look smooth and carefree.

This is what infuriate...

This week I’ve been listening to a four-part series about the Medici on one of my favorite podcasts, The Rest is History. Anyone with a mild interest in art history is surely familiar with the Medici family from Renaissance Florence who commissioned some of the most significant artworks in western history like Donatello’s David (the scrawny one, not Michelangelo’s ripped version) and Botticelli’s The Birth of Venus. 

Not surprisingly, as the Medici banking business passed from grandpa Cosimo to son Piero and then to his son Lorenzo, the business acumen and attention to detail started to wane as the gout and baller-lifestyles grew. So when a feisty party-pooper friar named Girolamo Savona...